This borrower is a seasoned investor with an extensive portfolio of success to show for it. Particularly from a design standpoint, the borrower understood the old folk community. If it weren't for the darn summer heat, the home would have flown off the shelf. There would have been some cane-smacking and walker/wheelchair racing to get to the front of the line to buy the home.
Acquisition Loan Amount: $86,250
Construction Budget: $25,000
Construction Draw Allowance: $17,500
Loan Length (approximate): 9 months
Purchase Price: $110,000
End Sale Price: $165,000
Location: Power & Southern (Mesa, AZ)